BAKU, Azerbaijan, Aug.19
By Zeyni Jafarov - Trend:
Azerbaijan’s Entrepreneurship Development Fund and Cybernet LLC signed a contract, Trend reports on Aug.19 referring to the ‘Electronic Procurement’ portal.
The winner of the tender announced by the fund for upgrading the online credit platform and technical service has been determined.
"Cybernet LLC was chosen as the winner of the tender upon the decision of the tender commission,” the portal said. “A contract worth 176,047 manat ($103,560) was signed with the company."
The Entrepreneurship Development Fund is an organization that issues soft loans to small and medium-sized businesses.
The fund was created in accordance with Azerbaijani President Ilham Aliyev’s decree dated July 31, 2018 ‘On improving the mechanism of state support for the development of entrepreneurship. The authorized capital of the fund is estimated at 1.94 billion manat ($1.14 billion), and the loan rate is five percent per annum.
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